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Coffee Talk (Sara/Mana edition)
VenVest hooks up with Mister Sparky
Sarasota-based VenVest Inc.'s Success Group International has kicked off its Electricians' Success International, a consulting and membership service company for the electrical contracting industry. The front man and CEO for ESI is Patrick Kennedy, an Atlanta entrepreneur who owns the highly successful electrical services company Mister Sparky.
Mister Sparky was the third electrical service company Kennedy started. A key to the company's success, Kennedy says, is that it doesn't do large commercial work.
"General contractors and residential builders are basically squeezing their subcontractors," he says. "It is not uncommon today for builders and developers to even go so far as to buy (electrical) materials, such as light fixtures and central wiring, trying to knock down the cost for the electrician to just pure labor. What we do, and what we are suggesting is that electrical contractors should go into the services segment of the industry ... targeting the consumer or the homeowner."
ESI, like Success Group's two other consulting businesses: Plumbers' Success International and AirTime500, also emphasizes additional marketing and consumer training for company technicians.
Mister Sparky is a $7 million a year company that has grown by 2,000% over the last 7 1/2 years.
After only a few weeks in business and two recruiting seminars, ESI already has 101 members. Kennedy says ESI and VenVest might start an electrical-contracting franchise in about a year.
East County perspective on the Far East
As expected, after visiting China on vacation John Swart, president of Lakewood Ranch Realty, returned with more than a few business insights applicable to the local market.
× "I think that we in the U.S. have to keep an eye on China as it becomes more and more of a world force. China is still pretty much an agricultural society. In our 800 miles of travel we only saw two thrashing machines. Most people still plow their land with water buffalos." But that is changing. Those small-scale farmers, which make up 80% of the population, make an average of only $200 a year. The average factory worker's wage is $1 per hour, meaning a worker can earn $160 a month.
× As a Realtor, Swart also saw the country in terms of real estate development. "In one of the cities, they were building three huge million-square-foot automotive factories," he says. "We also saw a lot of new mid-sized (10 to 15 store) towers in the middle of the cities. It was amazing the level of brand new investment. There was a huge amount of new housing development removing old antiquated housing. Just outside of Beijing I saw a city going up like Lakewood Ranch. It was a whole new village, most of which was tourist oriented."
× "From a real estate point of view it is really nice to be the government and have complete control of the land ... kind of like Schroeder-Manatee Ranch. At the Ranch, it has been a really positive factor in our ability to plan, on the micro scale, the development. That way you can hold development to a very high standard. The (Chinese) government has really good urban land planners."
Munroes sell mainstay, plan new concept
Rick and Suzanne Munroe sold the Munroe's restaurant building in Sarasota to Larry Goichman, president of Stanford, Conn.-based SCG Capital Corp. and a part-time Siesta Key resident, for $900,000.
Goichman, who also bought the equipment, is now looking for a tenant to occupy the 3,700-square-foot shop at 1296 First St.
"This is one of the best addresses in all of Sarasota," Goichman says. "I sure as heck hope to have someone in there by Season. My goal is to have someone in there by October."
Rick Munroe said this exit strategy was planned all along.
"In fine dinning you almost have to reinvent yourself every seven years," he says. "You either need a complete overhaul or to X it out. We just chose to X it out. We were happy for what we got. We felt the real estate was at the top of the curve. He (Goichman) is such a great guy; it was kind of the perfect storm. Just all the right things happened."
Asked what's next for the Munroe family, Rick Munroe says the family is taking a much needed break, for now. But coming next fall, he hopes to announce a new fast-food casual restaurant concept.
"My forte has always been as an opener and a troubleshooter," he says. "This is the longest time I have done just about anything. The new concept is ready to go now, it is just a matter of getting the right place to do it."
Michele Fuller, an associate in Coldwell Banker's Commercial Division, was the buyer's agent and is the leasing agent for the space. The rental rate is expected to start at $26 triple net. Sarasota-based Restaurant Properties Inc. represented the sellers.
Corrections
Former Marie Selby Gardens Chief Operating Officer Shawn Farr resigned in November 2003. GCBR reported the incorrect month in the June 18 edition. In addition, the board did not renew the contract of former Executive Director Meg Lowman. GCBR reported the board voted to seek her resignation. In addition to restoring the coquina siding on the William and Marie Selby home, a $430,000 grant will be used to replace the home's roof, install ADA-compliant facilities and complete other renovations.
Also, the record home sale on Longboat Key occurred in 2000, when Charles and Phyllis Savidge sold their home at 2121 Gulf of Mexico Drive for $10 million. In the June 18 issue, GCBR incorrectly reported a $6 million home sale set a record.
Etc...
× Mark Miller, owner of Westwater Construction Inc., has partnered with Gil Alvarez to create the real estate brokerage Sarasota Select Properties. According to Miller, the company will list all of Westwater Construction's properties and a number of its clients' property, giving the startup about $100 million in listings. The brokerage is designed to handle luxury homes and townhomes. Alvarez will act as the firm's licensed broker and he has two additional sales associates.
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